Skoda Posts Succesful Q1 Results

Skoda, the Czech brand in the Volkswagen Group’s portfolio, has registered a successful first quarter, as the company has seen its deliveries increase by 25 percent (year to year) to 178,900 units in the first three months of 2010.

The growth was driven by a surge on the Chinese market, where Skoda saw it’s sales boom by 121.9 percent to 42,700 vehicles and by a positive trend in Central Europe, where Skoda sold 28,000 vehicles (a 12.9 percent increase), out of which 13,200 were delivered on the automaker’s domestic market (+26.6 percent).

The company’s revenues reached a total of $2.71 billion in Q1 2010, a figure that can be translated into a 32 percent increase over the one posted last year. Skoda’s operating profit increases from $41.5 million (Q1 2009) to $129.7 million (Q1 2010). The main factor behind this growth was new vehicle sales, with other factors including a good model mix and a positive exchange rates impact.

"The sales results show that the markets in Western Europe are recovering from the economic recession. The only exception is Germany, where the automotive market slumped by nearly 25 % over the first three months as compared with the same period of last year. As for our deliveries to customers, the decision to produce vehicles in China is apparently paying off, as the country continues growing very dynamically. Sales in the Czech Republic, the domestic market, are also positive - our market share has reached 33.5 %,“ said Reinhard Fleger, Skoda Auto BOD Member for Sales and Marketing.

Despite the continuing uncertainty in markets worldwide, we expect the number of deliveries over the rest of this year to remain higher than in 2009.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram
About the author: Andrei Tutu
Andrei Tutu profile photo

In his quest to bring you the most impressive automotive creations, Andrei relies on learning as a superpower. There's quite a bit of room in the garage that is this aficionado's heart, so factory-condition classics and widebody contraptions with turbos poking through the hood can peacefully coexist.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories